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We’ll add more market news briefs throughout the day. Check back to read the latest.
Mortgage Bankers Association’s Builder Application Survey for October 2015:
- Mortgage applications for new-home purchases decreased 8 percent month-over-month.
- Conventional loans comprised 67.2 percent of loan applications; FHA loans, 19.2 percent.
- The average loan size for new homes decreased to $320,881 from $324,884 in September.
Mortgage rates:
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]
[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]
Yesterday’s most recent market news:
Freddie Mac’s Primary Mortgage Market Survey:
- For the week ending November 12, the rate for the 30-year fixed-rate mortgage averaged 3.98 percent with an average 0.6 point, up 0.11 percent from the previous week.
- The 15-year fixed-rate mortgage averaged 3.20 percent with an average 0.6 point, up 0.11 percent from the previous week.
- The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.03 percent with an average 0.4 point, up 0.7 percent from the previous week.
RealtyTrac’s October 2015 U.S. Foreclosure Market Report:
- Foreclosure filings increased 6 percent from September to October, marking the largest monthly increase in foreclosure starts since August 2011.
- The company attributed the monthly increase in overall foreclosure activity to a 12-percent monthly jump in foreclosure starts, with 48,605 properties beginning the foreclosure process in October.
- However, with that bad news comes some good news: Foreclosure starts in October were down 14 percent compared to the same month in 2014.
Send market reports to press@inman.com.
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